Eli Lilly and Co. (LLY) on Thursday reported first-quarter net income of $529.5 million.
On a per-share basis, the Indianapolis-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 87 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The drugmaker posted revenue of $4.64 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $4.62 billion.
Lilly expects full-year earnings in the range of $3.10 to $3.20 per share, with revenue in the range of $19.5 billion to $20 billion.
Lilly shares have climbed roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has climbed 20 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LLY at http://www.zacks.com/ap/LLY
Keywords: Eli Lilly, Earnings Report